R-21-06 03/13/2006RESOLUTION R. a `- O(o
A RESOLUTION ENTERING AUTHORIZING THE VILLAGE ADMINISTRATOR
TO ENTER INTO AN AGREEMENT WITH
MB FINANCIAL BANK FOR A $45,000 FINANCING COMMITTMENT
NOW THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND MEMBERS OF THE BOARD
OF TRUSTEES OF THE VILLAGE OF LEMONT, COOK, WILL & DU PAGE COUNTIES, ILLINOIS
that:
Section 1: The Village Administrator is authorized to execute the Proposal with MB Financial Bank attached
hereto as Exhibit "A ".
Section 2: Effective Date: This Resolution shall become effective upon passage, approval and publication, in
Book and Pamphlet form as provided by law.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD, OF TRUSTEES OF THE
VILLAGE OF LEMONT, COOK, WILL AND DU PAGE COUNTIES ILLINOIS on this
/3 Day of 71-, , 2006
AYES NAYS PASSED ABSENT
Debby Blatzer
Peter Coules
Brian Reaves lā/
Cliff Miklos ā
Ronald Stapleton
Jeanette Virgilio l } l/ 4
Attest:
JOHN F. PIAZZA, Village resident
ENE SMOLLEN, Village Clerk
f'ina
hank
Andrew C. Guyette
Commercial Banking Officer
Commercial Banking Division
March 6, 2006
Mr. Tim Schloneger
The Village of Lemont
418 Main Street
Lemont, IL 60439
Dear Tim:
630 -243 -3740
630 - 257 -2421 Fax
aguyette@mbfinancial.com
MB Financial Bank (hereinafter referred to as "MB" or "Bank ") is pleased to extend the
following financing commitment to the Village of Lemont (hereinafter referred to as
"Borrower") in the aggregate amount of $45,000 according to the terms and conditions listed
below.
Term Loan Facility:
Borrower: Village of Lemont
Facility: $45,000 Term Loan.
Purpose: To support capital expenditures.
Collateral: A $45,000 hold will be placed on the MB Financial Certificate of
Deposit #3680001326.
Pricing:
Repayment:
Maturity:
Loan will be priced at 2.25% over the Certificate of Deposit interest rate.
Monthly principal and interest payments.
Three years.